When can you remortgage with Santander

neilmfc

I currently have a mortgage with Santander which is a 2 year fix tracker mortgage

Product end date:27/10/2018
Product code:V900V
Interest rate:1.39%

I know i am well in advance but i currently have a lease car which is due to be returned September 2018 and rather then leasing again i would like to purchase outright.

I would like to further borrow, when the mortgage expires there will be around 130k remaining, i wish to borrow a further 40k taking it to 170k owing. This will be for car and a few household enhancements.

Property is currently worth around £660k so LTV wont be an issue, current income around 60k year so should not be any issues with further advance.

How soon can i go to Santander to request further advance can i do before the mortgage product expires.

Also do you know if they charge the product fee again if you renew for a further 2 years fixed rate tracker?

thanks in advance.

YHM

Would be worthwhile to actually review the market. You won't be able to review until 6 months prior to the expiry of your current rate though.

neilmfc

Thanks the only issue is the product does not expire until 27/10/2018 but my car has to go back on 30th September.

If i change providers i may have to get a loan car for a month and then purchase one after.

kingstreet

A further advance is going to be on a different rate, so you can do that when you like.

The customer retention product for the existing mortgage can usually be done about three months before the expiry of the current product.

You aren't remortgaging as there is no change to the mortgage deed. You are looking for 'products for existing borrowers not moving home', or similar.

neilmfc

many thanks kingstreet